Quote Originally Posted by Vteckidd View Post
Then why do we need a Federal Reserve? Why does the govt inject fake money to avert crisis?

Strictly speaking, money should only be available based upon what is in circulation, but that is not what happens. Banks leverage 80 times what they have on deposit. The FED has injected trillions of dollars that the printed out of thin air. This is not sound monetary policy, and it never has been.
Expansionary monetary policy has been happening for YEARS, how is it all of the sudden not sound monetary policy?